Motorsports Capital LLC announced the signing of an agreement to acquire through commonly owned and affiliated entities the assets of Carolina Motorsports Park, Inc. a 290-acre motorsports complex in Kershaw, South Carolina. Motorsports Capital will begin operating the facility on November 1, 2019.
The acquisition will allow Motorsports Capital to expand its offerings beyond capital raising and advisory services to include facility ownership and management.
Carolina Motorsports Park was built in 1999 by a group of investors led by Joe Hooker and Bob Humphreys. The Alan Wilson designed 2.27-mile, 14 turn road course has proven to be a popular venue for professional and amateur racers alike. In addition to the road course, the facility includes a .7-mile, 16 turn kart track and a skid pad.
Motorsports Capital’s founder Michael J. Cummings stated: “Facility ownership is a natural next step in the growth of our company. Carolina Motorsports Park’s ownership has done a great job building a first-class facility in addition to building a great organization and a loyal customer base. We consider ourselves fortunate to have the opportunity to continue the development of Carolina Motorsports Park”.
Joe Hooker, one of Carolina Motorsports Park’s founders stated: “We developed the facility to have a purpose-built road racing facility in the Carolinas and we are very proud of what Carolina Motorsports Park has become. We decided after 20 years, it was time to let another group take over and lead the facility’s development.” Bob Humphreys from Carolina Motorsports Park added: “It is “bittersweet” to sell something that has been such a big part of our lives for 20 years, but we are excited about what the next 20 years holds for Carolina Motorsports Park under Motorsports Capital’s ownership”.
Motorsports Capital LLC is financial advisory and capital raising firm serving the motorsports industry. Securities related transactions are handled through Synergy Capital I LLC, a member of FINRA and SIPC. Motorsports Capital LLC is not an affiliate of Synergy Capital.